Clearly no-one else is interested in buying BRM until they have a rail solution, hence we are doomed for this cycle of endless extensions until Wah Nam have it in the bag ... which may not be too far away.
The incredible thing is that a previously unknown limo company are on the verge of taking over a major Australian Fe deposit with absolutely nothing but the pulp of their own worthless stock. I can't stand the media's continual reporting that this is a $7XXM takeover ... it is a $0 takeover! They are taking this asset away with the kind of trickery that David Copperfield would be embarrassed by.
A freefall in the SP when this happens will be inevitable as WR and team are shown .. or run to the exits, but it would appear that Wah Nam don't care. They have a 50 year plan.
The desperate call to Twiggy at the 11th hour is yet to bear fruit and with each passing day it would now appear to be further away.
Even if a rail deal of some sort is secured there is no certainty that Wah Nam don't have a final rabbit they can pull out of the hat to scuttle the deal.
I know I speak for a lot of long-termers when I say the frustration is now at a critical level, and whilst I know that is exactly what Wah Nam want me to think, it doesn't change the fact that we have been snookered here and that utlimately BRM management are the ones that put us in this room of mirrors.
BRM Price at posting:
$5.83 Sentiment: Buy Disclosure: Held
